Opinion
China has long way to go in industrial upgrading: expert
(Xinhua)
Updated: 2009-08-07 11:04
China still has a long way to go in upgrading industrial processes, although it had managed to secure economic stabilization and was moving upwards, Zhuang Jian, a senior economist with the Asian Development Bank, said Thursday.
"China has achieved great success in bolstering the economy's growth through a series of plans to stimulate it, but it should also continue making efforts to upgrade its industries, as well as its energy-saving and pollution reduction measures, to sustain development," Zhuang said.
China's economic growth had slowed during the global downturn, but expanded 7.9 percent in the second quarter of 2009 year-on-year after sinking to 6.1 percent in the first quarter.
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Government figures show the amount of energy consumed in China to produce a unit of GDP dropped 3.35 percent year-on-year in the first half. The decrease compares with 2.88 percent for the first half of last year.
China should also promote domestic consumption to boost economic growth, he said.
